What are tariffs?

Tariffs are fees that countries charge on goods coming from other countries.

Imagine you're buying candy from a friend who lives across the street. But if your friend lives in another town, they might have to pay a little extra for their candy before bringing it to you, like a small tax just for crossing the street. That’s kind of how tariffs work when countries trade with each other.

Sometimes, a country wants to protect its own businesses. If another country sells something cheaper, people might buy that instead. So the first country adds a fee, making the foreign product cost more, just like your friend’s candy would be more expensive if they had to pay extra.

If your favorite toy is made in another country and tariffs are high, that toy might cost more when it gets to you. But if tariffs go down, the toy could get cheaper, just like getting a discount on something you love!